Noble Iron awarded Nabil Kassam, the company’s founder, chairman and CEO, 500,000 stock options with a strike price of $1.30 per share and a vesting period of three years. The company awarded 100,000 stock options to independent directors as the equity component of the board’s compensation for 2015.
The options awarded to directors have a strike price of $1 per share and vest immediately upon grant. Noble Iron also awarded 10,000 options with a strike price of $1 and a vesting period of three years to a member of Noble Iron’s management team.
All the stock options awarded have an expiration period of 10 years following the date of the grant.
Noble Iron’s equipment rental and dealership operations do business under the name Noble Iron and serve customers in California and Texas. Noble Iron is an exclusive distributor of LiuGong Construction Machinery equipment and Allied Construction Products in Southeast Texas.
Noble Iron also owns Texada Software.